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Midwest Funding Report: Columbus, Ohio Closes Big

The Funding Roundup is a weekly note about companies that raised venture capital.  We use four sources – 1) those that are sent to us via press release (hello@mug.news), 2) Form D filings in the sixteen states that we cover, 3) Databases to which we subscribe (particularly Pitchbook, Crunchbase), 4) Other sources (such as SBIR grant database).  The goal of the funding roundup is to provide a quick synthesis of companies that are aTctively raising money.  This is not a value judgment placing VC backed companies over bootstrapped – only a recognition that VC backed companies often file paperwork that puts them on our radar. 

We have a full Middle for the first time in 2022.  That means that every state had at least one deal.  The largest deals continue to be in places such as Chicago, Ann Arbor, and Columbus, but this period had Digital Diagnostics in Coralville, Iowa.  There were also big deals in Des Moines, Grand Rapids, and Fort Wayne.  Many deals were in Fintech or medical devices, but there were some other Saas and physical product deals.  In other words, this was an interesting period for deals in the Middle.

We will release our current scoreboard early next week.  We are in the process of updating it.

NameDollarsCityState
Large Deals ($10+ million)
Branch Insurance131.04ColumbusOhio
viaPhoton80.00AuroraIllinois
SkySpecs80.00Ann ArborMichigan
Stable60.00ChicagoIllinois
Tandym60.00ChicagoIllinois
Digital Diagnostics55.00CoralvilleIowa
Foxen44.00ColumbusOhio
Amount40.00ChicagoIllinois
Azumo30.00ChicagoIllinois
Moxe30.00MadisonWisconsin
Vyriad29.50RochesterMinnesota
PayIt28.94Kansas CityMissouri
Kemin Industries25.00Des MoinesIowa
Black Buffalo25.00ChicagoIllinois
NextBillion21.00Ann ArborMichigan
MVMNT20.30ChicagoIllinois
NewLake Capital Partners20.00ChicagoIllinois
PatientIQ20.00ChicagoIllinois
Homethrive20.00NorthbrookIllinois
Strive Asset Management20.00ColumbusOhio
Nikola Labs20.00WestervilleOhio
Ensodata20.00MadisonWisconsin
Felux19.00ClevelandOhio
Enumera Molecular16.00Ann ArborMichigan
INCOG BioPharma15.00FishersIndiana
EXO Freight15.00Royal OakMichigan
Coinshift15.00WyomingMichigan
Tyson 2.013.59ChicagoIllinois
CertifID12.53Grand RapidsMichigan
Vibenomics12.30FishersIndiana
Mazen Animal Health11.00St LouisMissouri
Tripscout10.25ChicagoIllinois
Journera10.00ChicagoIllinois
Civic Eagle10.00MinneapolisMinnesota

Series A ($2-$10M)
  
Monica + Andy8.30ChicagoIllinois
3BG Supply Co.8.00Fort WayneIndiana
StreamLayer8.00ChicagoIllinois
Standard Bariatrics7.00CincinnatiOhio
Secured27.00MinneapolisMinnesota
Cardio Diagnostics6.73ChicagoIllinois
Colorfil (Household Appliances)5.79UrbanaIllinois
MagIron5.40GilbertMinnesota
Kypha5.15Saint LouisMissouri
Humankind5.10IndianapolisIndiana
Sifter SP5.00EvanstonIllinois
Serionix4.79ChampaignIllinois
Culina Health4.75MadisonWisconsin
Realto4.50Overland ParkKansas
Blue Line Battery4.26WhitewaterWisconsin
Showrunner4.00ChicagoIllinois
Freight Science4.00St LouisMissouri
Exavir Therapeutics4.00OmahaNebraska
Tonka Energy Partners3.65WayzataMinnesota
Intelligent Generation3.60ChicagoIllinois
Pluie3.50Lake ForestIllinois
Noble Gas Systems3.50NoviMichigan
SMARTcare Software, Inc.3.50Eau ClaireWisconsin
SIQ Basketball3.00FinlandMinnesota
SekureTrak2.89ChicagoIllinois
R Systems2.72ChampaignIllinois
Visana Health2.60MinneapolisMinnesota
TraknProtect2.59ChicagoIllinois
CubeWorks2.46Ann ArborMichigan
Niteowl2.38SpringdaleArkansas
Easybins2.38SpringdaleArkansas
Predictive Oncology2.30EaganMinnesota
Folia2.00BloomingtonIndiana
Hyfé Foods2.00ChicagoIllinois
Apparo2.00Eden PrairieMinnesota

Early Stage Deals ($500k – $2M)
  
KeborMed1.93ClevelandOhio
Phoreus Biotechnology1.93OlatheKansas
Round River Research Corp.1.87EdinaMinnesota
SOLTEC Health1.87Eden PrairieMinnesota
Visual Feeder1.69ChicagoIllinois
STRATAFOLIO1.65Cedar RapidsIowa
SI1.58LeavenworthKansas
PairUp1.55ChicagoIllinois
Doxx1.50EgyptArkansas
Alpaca1.50OmahaNebraska
Subterra1.42CincinnatiOhio
Blox Spiked Ice1.40CincinnatiOhio
Spikes1.40West ChesterOhio
Rockview Payments1.35North Little RockArkansas
Abaca (Financial Software)1.35North Little RockArkansas
tilr corporation1.30CincinnatiOhio
Hyr Medical1.25ClevelandOhio
Raison1.25Sioux FallsSouth Dakota
Sentinel Fertigation1.20LincolnNebraska
BWR Innovations1.20FargoNorth Dakota
Truly Free1.00Traverse CityMichigan
COnovate1.00MilwaukeeWisconsin
Stroma1.00ChicagoIllinois
Syra Health1.00CarmelIndiana
MindLabs (Educational Software)1.00West LafayetteIndiana
The MVMNT Group0.80ChicagoIllinois
LABR0.73Grand RapidsMichigan
Lepidext0.70LexingtonKentucky
OfferingTree0.57MinneapolisMinnesota
Lake Cumberland Surgery0.53SomersetKentucky
Chitogen0.53PlymouthMinnesota
Verdtech0.52Saint LouisMissouri
Vault3650.50IrelandIndiana
Cambio0.50ChicagoIllinois
Payload (Business/Productivity Software)0.50Grand RapidsMichigan
Babyation0.50Saint LouisMissouri
Seed Stage (Less than $500k)
LeagueOS0.49St. Louis ParkMinnesota
Bristola0.40WaukeeIowa
Milestone Business Solutions0.38CarmelIndiana
ProtoKinetix0.37MariettaOhio
RF Bistatics0.35Ann ArborMichigan
16 Lots Brewing Company0.35MasonOhio
Ovid BP Systems0.32Grosse Pointe ParkMichigan
ARONSON WOODWORKS0.25ProleIowa
OrisDX0.25ChicagoIllinois
Canary Mining0.25Oakbrook TerraceIllinois
MIIR Audio Tech0.22MinnetonkaMinnesota
Cornerstone Research Group0.21MiamisburgOhio
FR8relay0.20BentonvilleArkansas
ROCK’N Vodka0.18BelvidereIllinois
Hitchpin0.15ManhattanKansas
VIC Technology Venture Development0.13FayettevilleArkansas
Noble Story Co.0.12Grand RapidsMichigan
Project Content0.11WichitaKansas
Groov0.10CliveIowa
LEAH Labs0.10RochesterMinnesota
Notoros0.10Saint LouisMissouri
TCARE0.10Saint LouisMissouri
HomeTraq0.10St LouisMissouri
Supervest0.10SchaumburgIllinois
Laminar Scientific0.10Iowa CityIowa
Ehrhart Griffin & Associates0.10OmahaNebraska
Ignyte Assurance Platform0.10DaytonOhio
Inprentus0.09ChampaignIllinois
Tandem Title Agency0.06CincinnatiOhio
CAREgivers Insight0.05MidlandMichigan
Ivee0.05Mount ProspectIllinois
Vertical Malt0.04CrookstonMinnesota
ProCircular0.03CoralvilleIowa
Hellcat Technologies0.03TaborIowa
InfoHome0.03ChicagoIllinois
Ludus (Entertainment Software)0.03HollandMichigan
Designer Brands0.02ColumbusOhio

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